Long Opportunity - Falling Wedge/Bearish Cypher - At Buy Level

BITFINEX:AVTUSD   Aventus / Dollar
AVT has been firmly stuck in a bear trend for the week or so. The chart started off looking very bullish , but has since pulled all the way back to the original .786 fib line. It appears we should be nearing a reversal, as two patterns have clearly formed that suggest a breakout above $3 is on the horizon.

When we look at the trend lines we see a falling wedge , but it is also set up to complete the CD leg of a bearish cypher . The indicators are still bearish so we need confirmation of a reversal & volume has been low which will obviously need to change. Overall, I think this is a good opportunity given how this chart has played out so far with high probability. Set a tight stop as this pattern can't go very much lower & still be valid.

Buy: 2.5 - 2.7
Stop: 2.45
Target: 3.98
Comment: It appears the BTC hardfork situation is suppressing all the alt coins at the moment. Should see a pump soon if you have the stomach to wait for it.


nice all
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